Government Secretary Says National Bank Salaries Must Be Viewed in Context of Private Banking Competition

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Secretary General of the Government Alexei Buzu says the relatively high salaries paid at the National Bank of Moldova (BNM) should be assessed in the context of competition with the private banking sector, where remuneration is generally higher.

Speaking on the “Rezoomat” program on Realitatea TV, Buzu commented on an analysis presented by Prime Minister Vasile Tofan, which showed that 61 BNM employees earn more than 80,000 lei per month.

He said the Government’s immediate focus will be on institutions directly under its authority.

“First of all, we will intervene in the institutions subordinated to the Government, where the Government is the founder. As for these independent regulatory institutions, the Prime Minister has proposed a broader discussion, including with Parliament, to see whether we can improve transparency,” Buzu said.

The Secretary General stressed that the National Bank has an important mandate and must remain capable of attracting and retaining highly qualified professionals.

“We understand that the National Bank has a significant mandate. Its professionals demonstrate a high level of integrity and expertise, and it is clear that the National Bank, as an employer, competes with other banks in the Republic of Moldova, where remuneration is higher. This is also something we must take into account,” he added.

His remarks follow the publication of a Government analysis based on State Tax Service data, according to which the National Bank of Moldova has the highest concentration of top salaries in the public sector.

The figures show that 124 BNM employees receive monthly salaries exceeding 50,000 lei, while 61 of them earn more than 80,000 lei per month.